In the new technological age, many consumers have converted to the use of digital wallets in alternative to traditional payment methods. Digital wallets provide a means for storing payment credentials associated with consumer accounts that are maintained by financial institutions. In this way, the consumers can access their digital wallets to process electronic commerce transactions as opposed to having a physical payment medium such as a debit card in their possession.
As a result, consumers often interface with their digital wallets when managing payments and processing transactions. However, due to the fact that digital wallets are often maintained by third parties that are not directly associated with the financial institution responsible for issuing the consumer payment credentials, consumers are limited in the types of information related to the account(s) associated with the respective payment credentials that they can see. In order to view account information such as an account balance, a consumer is required to exit the digital wallet and login to a separate application or webpage such as an online banking application. For some individuals, constantly switching back and forth between applications in order to view account information can be quite burdensome.
In this regard, there is a need to reduce a customer's burden by mainstreaming financial account information and financial offers within digital wallets.